Hargreaves Lansdown to launch new funds as profits tumble 26%

Performance down across most metrics

James Baxter-Derrington
clock • 1 min read

Hargreaves Lansdown is set to launch a new range of in-house funds in a bid to improve the competitiveness of its products while its profits tumbled over the first half of the year.

According to the platform's H1 2022 results, profits were down 26% year-on-year, falling to £269.2m over the past six months. The company recorded negative change across most performance metrics compared with the same period last year, with net new business down 37%, total assets under administration 9% smaller at £123.8bn and revenue shrinking by 8%. This also led to a reduction in diluted earnings per share, down 27% to 45.6 pence. HL confirmed the total ordinary dividend would increase 3% to 39.7 pence per share, although the total dividend is down on 2021's figure owing to a lack ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your Business

All the advice firm acquisitions that have taken place in 2024

All the advice firm acquisitions that have taken place in 2024

Keeping track of the ongoing consolidation of the advice industry

Professional Adviser
clock 06 June 2024 • 1 min read
How wealth and advice firms should handle integrating acquisitions

How wealth and advice firms should handle integrating acquisitions

'Integration post-acquisition does not have to be so difficult'

Carl Woodward
clock 06 June 2024 • 4 min read
Income withdrawal strategy the top focus area for advisers

Income withdrawal strategy the top focus area for advisers

Tops the list of focus areas following the FCA’s Retirement Income Review

Isabel Baxter
clock 29 May 2024 • 2 min read